Illinois Real Property Disclosure Act Revised

The Residential Real Property Disclosure Act was recently revised and became effective on May 13, 2022. There is a new form for sellers to complete and provide to buyers prior to signing a contract to sell residential property. We recommend that sellers who have completed disclosure reports after May 13, 2022 should complete a “new” report. Some of the revisions include the definition of “seller,” certain clarifications for seller exemptions, new language that makes it abundantly clear that sellers must amend the report if they gain new information about the property that would change their response, and clarification that the report must be provided before the signing of a contract. The list of enumerated questions remains substantively the same, with some minor tweaks.

If you need a copy of the new disclosure report, please email us at [email protected].

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